_:naac4f0b98f0d499fbc927dfd5ac839fcxb0
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"<p>\r\n\tResidential real estate finance provided by banks to individuals was down 41 percent year-on-year in April, according to data released by Saudi Central Bank.</p>\r\n\r\n<p>\r\n\tNew residential loans decreased to SR9.2 billion ($2.45 billion) in April from SR15.6 billion last year.</p>\r\n\r\n<p>\r\n\tHouses make up the biggest portion of residential new mortgages with 64 percent or SR5.9 billion. Apartments and land follow with SR1.7 billion and SR1.6 billion respectively.</p>\r\n\r\n<p>\r\n\tThe highest decrease was reported in new land mortgages, which decreased by 60 percent in April, compared to the same period last year.</p>\r\n\r\n<p>\r\n\t<img alt= height=446 src=/sites/default/files/userimages/3428266/residential.jpg width=900 /></p>\r\n\r\n<p>\r\n\tAfter witnessing around 74 percent monthly increase in March, new housing loans by Saudi banks saw a decline by around 40 percent in April, with land financing recording the highest drop.</p>\r\n\r\n<p>\r\n\tThe number of new mortgage contracts in April declined to 11,255 from 19,000 in March, and by 43 percent compared to the same period last year.</p>\r\n\r\n<p>\r\n\tNew residential loans granted by finance companies constitute only 2.3 percent of similar loans provided by Saudi banks and amounted to SR211 million in April this year.</p>\r\n\r\n<p>\r\n\t<img alt= height=468 src=/sites/default/files/userimages/3428266/residential2.jpg width=900 /></p>\r\n\r\n<p>\r\n\tThese loans have also witnessed a year-on-year decline of 39 percent from SR343 million last year.</p>\r\n\r\n<p>\r\n\tHouses, which constitute more than 50 percent of new retail housing loans by finance companies, had a yearly decline of 55 percent in April.</p>\r\n\r\n<p>\r\n\t&nbsp;</p>\r\n"
<https://www.arabnews.com/node/2100026/business-economy>